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tv   Varney Company  FOX Business  February 23, 2024 10:00am-11:00am EST

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stuart: casey and the sunshine band, not sure what the relevance of that is, maybe the market, the market doing well this friday. midtown is almost deserted. it's 10:00 eastern. let's get to the money. the dow is up another 200 points, half a percentage point on top of yesterday's began, the nasdaq up another 0. 13%, not too great but in addition to yesterday's grain. nvidia going up again, a dollars and $0.06 is your price up another 2. 6%. . that a rally and 1/2. the 10 year treasury yield not so important these days, just below 4. 3%. then we have bitcoin around 50 one thousand dollars, 50 one
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thousand 25 to be precise. it's friday, that's the markets, now this. here is a little economic reality. when you lower tax rates, the rich pay a lot more in taxes and treasury revenue goes up. both times, the rich ended up paying an ever higher share of the nation's tax bill. the top 5% now pays 2 thirds of all income tax. that's economics. years the politics. the left, never enough. they always want more. you hear from the president on down how the rich should pay their fair share. he will keep hearing that expression. the evils of income inequality and the wealth gap will be prominent in the state of the union address next month. biden will rail against millionaires, billionaires, greedy corporations and wall street. that message of class envy
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plays well with the left, they want to punish wealth. that's the politics of financial jealousy and it is dangerous. raise taxes and you risk recession. if you got a recession, tax revenue goes down in the debt goes up. closing in on $50 trillion. the left doesn't care so long as they punish the hated rich. it's desperation. biden is giving us another dose of class warfare. i was born and raised in england. that's where class warfare was invented. i can't resist quoting margaret thatcher addressing parliament, she said this. the socialists would rather have the poor horror as long as the rich are less rich. what she said then resonates today in america. the second hour of varney just getting started. it is friday, tammy bruce is
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with us bringing the fire to the set. >> a little bit of coo joe in the green room, angry in general, with things like this you are hitting on the market. envy, envy can make people, you can manipulate people, turns into anger, and fear even but it doesn't matter if - everyone becomes more of a victim because the left relies on victimhood. that is what it means. it is a horrible, narcissistic cancer that we've seen, and we can't say we didn't know it, they know it works like this and are doing it anyway. stuart: they hate the rich, they want to punish people with money. >> they are the signal that you can make more of your life, they are the example especially in this country, in england you've got the elements and the levels you can't get out of hand the class you're born in, you stay in. in america the first place, only place in the world where
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your dreams, look at elon musk and his background, single mother, domestic violence, moving from city to city, country to country, the richest man in the world. only in america can this happen and it encourages people that merit, learning about things, having a dream can make your life change, that is kryptonite to the left. it is anathema to them because it ruins their entire point. stuart: joseph biden told democrat donors that he has served with real racists during his time in the senate. current republicans in congress, quote, are worse than those racist lawmakers, strong accusation. >> it is likely and violent moves into what we discussed, they've got to have an enemy. this is painting half the country as more horrible than the clan, picking up his tiki torch running around saying
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everyone who's not like them is evil and bad, but that moves them into envy, resentment, fear, anger, and a willingness to condemn an entire group of people because of who they are which is what this country went through a civil war to eliminate, to say individuals matter regardless of who they are and now in the 21st century, the democrat leader trying to move us into this place where no one wins, nation of victims. >> americans have a chance to reject this completely. we know no one wins. everyone loses and is impacted by this, the biden economy has shown us that. stuart: don't be distracted by the siren song of socialism. >> now we know what the result is. a hundred years ago maybe not, now we do. stuart: when i was writing that this morning i checked out youtube and there was margaret thatcher nailing the socialists like you wouldn't believe.
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i recommend anybody look it up, you will find it somewhere. margaret thatcher on the socialists, wonderful stuff. good stuff. president biden's campaign could lose a critical state because the state has not called for it -- the president hasn't called for immediate cease-fire in gaza. lauren: michigan, swing state, their primary, biden beat trump in michigan by three percentage points, one hundred 50,000 votes. biden won by one hundred 50,000 votes and there are 200,000 registered muslims in the state. they want a cease-fire and they say the national democratic party is not listening to them and they can make their anger known at the ballot box, they can write like they did in new hampshire, cease-fire on the ballot. tuesday's results will tell how deep this rift is in the democratic party. can biden keep the arab-american vote and the
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young vote through november because both of those groups want to cease-fire in gaza and he hasn't called for that. blue one got it. we move on to the markets. wonderful subject friday morning. dow is up 107. when is he going to hit 40,000. s&p up 19, nasdaq is up another 31. look who is here in new york, he deserted chicago, come to sit with us in new york city, jonathan honu, we normally get an exotic investment advice from him but this morning i'm going to ask about nvidia. is that exotic enough for you. >> look at nvidia. makes me think of the line from movie wall street, your honor roll, kid, enjoy it while it lasts because it never does. the stock is parabolic, up 30% in the last month. if that continues, we are talking about a stock that's up 1700% this year.
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i don't think nvidia is worth $32 trillion despite how much it has gone and how big the hype is on ai. this is the same we from -- it was cannabis five years ago, nano tech before that, then was before that and the same fear of missing out, people talking in late 1998-99, stocks went up in 95, 96, 97, 98 and 99, 100%. the market is hot but i'm looking at the next winners, not the ones in the front. stuart: do you play ai at all on your phone? what is your way of getting into ai? >> if you own the s&p 500 you are in a i. microsoft, nvidia, these are major components of the s&p 500. the technology has only been this big part of the overall market twice. once now and once again in 2000
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so even if you don't own ai names specifically. if you're in it you're in and a big way. of the when you always bring us exotic investment on friday morning. i see you are looking at gold, there's nothing exotic about gold. >> gold might be cheap, treading water for quite some time but on an inflation-adjusted basis, it out to be one thousand dollars higher. i look at the price of cocoa which has shot up dramatically and some other commodities as well. gold is a smart idea if the dollar starts to weaken. one thing not going in dc is any talk about cutting spending. spending more interest on the national debt than we are on defense so now is the time to head your self and gold is a great idea. i do on that. stuart: the ordinary everyday investor, how do you get into gold?
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>> there's etfs the trike the gas of gold, gld, don't make it all or none whether it is beanie babies, gold or crypto, people fall in love and say i am all in or all out. one part of your portfolio, now is the time. stuart: i am 75 years old, i retire sometime in the future. how much of my money should be in gold? >> start with a 5% position, and as it goes up that is when you add more. you don't want to buy on the way up. 2400, 2600, if you buy at 2,000 it drops to 1500, you know you are on the wrong track. the winners, not the loses in your portfolio. we when you come from chicago to new york, jumping into the fire.
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welcome to new york, see you soon. lauren is looking at some movers. what's with live nation up again? lauren: very easy, concerts very popular, people choosing to spend their money on experiences. revenue rose 36% and the number of concerts by 20% so it is all numbers all the way around. stuart: a travel company obviously. lauren: things go back to normal. they are cutting their forecasts normalizing travel demand in the us after two years of exuberance. allah pent-up demand. they are forecasting first order growth from 5% to 7% a year ago. it came in up 44% and with that you can see the other travel names down. airbnb down. blue one next case, draft kings. lauren: they say the stock is going to $50, us digital gaming, significant growth ahead and they are not worried about more competition.
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people are betting on multiple things happening at once now. stuart: $42 stock comes to 50. i find that boring. when you look at nvidia, palo alto networks. >> it on a percentage basis, pretty big move, draft kings has been hitting a new 52-week high for months. stuart: i'm still the dollar guy. i want to see $100 a share. stuart: i missed it. lauren: goldman sachs as it is the most important name on planet earth right now, just get one. stuart: you are with me? >> a lot of people in this show did not. stuart: coming up. nvidia is surging again this morning, mark tepper says it is his number one way to play ai. could nvidia overtake apple by the end of the year? we ask the question. tomorrow marks two years since russia launched invasion of ukraine. 's ukraine desperate for help? could they lose if you are
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support dries up? former us ambassador to nato kurt volcker on that next. ♪ t is the sky ♪ ♪ it's our time ♪ ♪ you don't want to miss it (just a little bit louder) ♪ ♪ it's our time ♪ ♪ you don't want to miss it ♪ ♪ it's your moment in the spotlight ♪ all your ambitions. all in one app. low fixed rates. borrow up to $100k. no fees required. sofi. get your money right®. (♪) i've got to go. ok. bye. mom! (♪) -thanks mom. -yeah. (♪)
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stuart: we still have green, the dow is up 183 points, nasdaq up another 30, close to 20 points, green on the screen. tomorrow marks two years since russia launched invasion of ukraine. the wars far from over. greg, you visited one of the hardest hit towns of the war. tell us what you saw. >> reporter: it was a mix of
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hope and despair. let's run down a few other developments today. might be a milestone in the war, wretch is done by a fresh are taking a pause, lunch 32 drowns and 6 missiles across the country, most were knocked down but there were four people killed, 9 injured, damage done in the odesa area in lviv, congressional delegation, charles schumer pitching for that $60 billion in military aid on capitol hill. certainly this is the sentiment here. we spoke with several ukrainian mentors of parliament, the funds are central to the war effort as it is such to enter its third year of battle. look at what we saw and heard. >> reporter: two years on of the horror russia did near kyiv made the worst over the war. killed, tortured, captive,
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houses destroyed, tanks rolling neighborhoods. the second anniversary of russia's invasion. >> some improvement in place a broken bridge and string of refugees, new highway bridge here, folks heading toward some kind of future. streets filled with carnage cleaned up in place of a mass grave near a church, memorial to those lost. >> russia was here briefly if your member that vividly. >> the town admit some changes are superficial. on the outside you see it is renovated but inside still hard. there was once a shooting gallery, they are still worried about the battles raging around the country. >> translator: i'm still very anxious. we don't have enough soldiers, don't have enough weapons. the real war was here. >> the real war is everywhere for ukraine. >> the real war is getting more difficult.
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all along the front line, russia is making gains, a new set of us sanctions aimed at trying to set back russia a bit more, no one, off got underscore that, no one we have spoken to is ready to throw in the towel. stuart: thank you very much indeed. former us ambassador to nato kurt volcker joined me now. does zelenskyy lose without american arms and support? >> he doesn't lose but the war changes character. ukraine goes into guerrilla mode, likely sabbath occupied france in world war ii. they won't accept russia takes over the country but there is going to be much harder. and what our assistance will do. i believe congress will approve it, the majority of both parties support, once that is approved, what we are doing is helping ukraine fend off the russian attacks while others
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increase their defense industrial base. europeans are doing that, we are doing that, ukraine is doing that, there's going to be a much greater supply of weapons available. stuart: are the two sides maneuvering around possible peace talks or cease-fire? >> i think we all saw vladimir putin's interview with tucker carlson, putin is not in any mind to negotiate about anything. he talks about reestablishing the russian empire claiming all of ukraine is russian lands, falsely claiming russia was founded in kyiv. this is the kind of rhetoric you get from someone who fundamentally does not believe russia has any borders and he has a right to take over territory wherever he wants, the people that neighbor russia don't exist, legitimate independent people, that's not something you can negotiate with. we won president biden called pruden, quote, a crazy sop during a private fundraiser in california yesterday.
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the kremlin fired back saying, quote, it is clear mr. biden is demonstrating hollywood cowboy behavior to so domestic interest. putin has artie said he prefers biden over trump. what's the domestic politics of the american president name calling the russian leader. >> what we need to do is put in place the tough actions which would be far more interested to see the administration approve long-range artillery systems to get to eastern ukraine rather than calling names which i would rather see us go to take the a 10 aircraft energy commission and find a way to provide them to ukraine, things we could do to show vladimir putin that we are determined and serious rather than name-calling. stuart: tomorrow marks the 2-year anniversary of the initial invasion. how long is this going to go on?
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it's not going to be over soon, is it? >> it's not going to be over soon, the russians had time to dig in a year ago when ukraine was planning its counteroffensive. had the opportunity then before the russians dug in with massive offenses to give ukraine more than it needed. we didn't do that, we were slow, rolled out slowly, russia has dug in. will will be a lot tougher to dislodge them, we still need to help the ukrainians disrupt and deploy russian forces on the field to hold the russians and get time back on ukraine's side because they are building a strong vibrant economy and democracy, they need time. stuart: thank you very much for joining us can we appreciate it always, thank you. senator marco rubio sounding the alarm on the at&t outage. what is he saying? ashley: he says the outage
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pales in comparison to what a china cyber attack would look like. he says i don't know the cause of the outage but it would be 100 times worse when china launches a cyber attack on america on the eve of a taiwan invasion. at&t says the outage was caused by a software update. beijing very upset over the visit of a us congressional group to taiwan to meet with the newly elected government. china says it opposes any interaction between the two countries calling it interference and urging washington to be mindful of the complexity and sensitivity of the taiwan issue. ashley: thank you very much indeed. here is what is ahead on this program. david portnoy adopted a new job who is having trouble adjusting
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to the new schedule. >> i don't know how you expect me to sleep. it is 7:00 in the morning. stuart: a good thing miss peaches got him up because dave is joining us in the next hour. we told you how the ai chat bot was chris ashworth woke responses. the top executives under fire for past tweets on white privilege. ♪ ♪ ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim:
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stuart: still holding onto a dowser 200, modest gain for the nasdaq, 14 points, less than a quarter than 12:45%, earlier was up 2%. a pullback on the nasdaq. lauren is looking at the movers, tell you about carvana. lauren: $70 a share, it was at $276 a share three years ago. first annual profit, that the news, really solid turnaround powered by cost cuts and debt
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reduction. carvana is the winner. jpmorgan says time to sell, they are down 7% because the chinese market is softening and neo-new bottles too entice chinese customers. stuart: i thought there was a problem with travel but here i see high at hotels and a record high. lauren: up 8% at 136, stronger profits in the last quarter. revenue per available room increased 9% in the last quarter, 17% for 2023 and they say attended higher this year too. they are fine. stuart: republicans urging biden to deactivate his campaign's tiktok account. they say national security concerns regarding a china-based apps. hillary vaughan on capitol hill. house the campaign responding?
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>> reporter: they are unfazed by the guidance from the fbi director over national security concerns and concerns sparked by the president's national security team. several tiktoks have been posted from the biden campaign in the last week including some with x rated songs in the back on with lyrics like after the club up. the campaign trying to connect with younger voters on the platform at of the election but a group of senate lawmakers on capitol hill led by marco rubio are asking biden to get his campaign into the latest tiktok account saying he is setting a bad example for young people, quote, how can the federal government warned americans about the risks of this apps if the commander-in-chief uses it? by downloading tiktok your singapore example to the american people while making them less safe in the bargain, we urge you to delete your account, no signs that the campaign has any plans to do that because they think in large share of young voters they think they can get in november are using tiktok but
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it turned out to be an outlet for a lot of young americans to rage comment about tiktok as his handling of the israel/hamas war and his refusal to call for a cease-fire. stuart: thank you very much. we have a headline for you. the soros backlash. the nation has turned against soft on crime prosecutors. tell me how public opinion has turned away from these radical das? give me an example. >> he ended up getting ousted, to be too liberal for san francisco is an impressive feat and so humiliating for george soros that he immediately after, tried to deny ever funding putin in the first place. like alan bragg, the argument is i didn't fund him, i funded a group that funded him but these das aren't far left cities, the fact they are not
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running for reelection are getting ousted are having major scandals says a lot. stuart: why do you say public opinion is turning against them? >> turns out, paraphrase city slickers, two kind of politics, liberal and progressive, progressives are weak on crime, liberals are obviously, don't want to be victims of crime so they will vote based on that. stuart: das have to stand for election. are any of them left in place? will any of them be elected or voted out? >> we gone 75 to 70 so far. i identified nine being ousted or going to leave and 7 of them were not going to run for reelection. they knew there was no way to get reelected. lauren: pamela price visited
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the jails everyone in oakland have seen their cars get stolen. they' ve had enough and are trying to recall that. stuart: she could easily get reelected. lauren: or recalled, everyone is fed up. >> the turnout rate in these elections is microscopic. there needs to be a website with a directory of all these das whether they are up for reelection and that -- maybe i should do that. stuart: top executive behind google's chat bot gemini, that executive has come under fire for resurfaced wes the claimed white privilege was a real thing and called on people to recognize bias. >> ai is only as good as the people programming it and there's a lot of good applications for machine learning, but when it is something where there's opinion will only spout the answers that help the left. if you ask chat gpt to bash biden usually won't. if you ask it to bash trump, it will.
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notice this one. it wouldn't really draw white people or acknowledge them in their ai, the google one and i had this, this is a dumb thought but people have these conspiracy fears of a are going rogue. if it doesn't notice white people would be the only people spared? almost double racist in both directions. of the when you've done this. you asked these questions. >> i did ask if my soros book is worth reading edited say yes so it's not entirely bad but overwhelmingly it gave a left-wing answer. stuart: change that though. >> you don't. if you look at how these big tech companies donating presidential campaigns if they are 90% democrats, that's considered right-wing in context of how these companies operate, twitter was 89%. all the similar companies are like that. be when the bias is written reagan. it's part of the data that ai analyzes and spits out a
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liberal response, that's how it is. >> google is using the reddit information to train its models. that could give you a more human or honest detailing of stuff if they write what they think. stuart: will we ever get to the point you ask something from a chat bot and it spits out a neutral response? >> we need more conservatives in the field but it will be a -- could take a generation before we see that happen. stuart: thanks for delivering it anyway. and donald trump said governor desantis was on his short list for potential vice president, we will tell you what desantis had to say. cpac underway but nikki haley is not attending. seems to be momentum is behind trump. we are in the middle of the drama after this.
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stuart: the markets this morning, big gain for the dow, up 200, the nasdaq's lead has narrowed, one hundred points, now it is up 12. some narrowing of the gains on wall street as we get into the second hour of trading. conservatives flocking to maryland ready annual cpac conference is underway where richardson is. it is an election year. what's the focus of this weekend? >> it is here, getting donald trump back in the oval office. he has been the dominant theme of this conference. a number of his former
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administration officials, backers and those rumored to be on his vice president will shortlist have been speaking here, that includes vivek ramaswamy. he's only the former trump challenger who is on the speaker's list over the conference the last few days. when he was in the republican primary will raise he was componentry of the former president. he is considered a possible trump price presidential choice, so are congresswoman elyse stefanik, jd vance and kristi noem and byron donald was on the shortlist. he said the former president will provide the leadership the country needs, tulsi gabbert also considered a vice presidential choice, spoke last evening and pushed republicans to clear the field for trump. >> if you listen to what he haley has been saying, she claims that donald trump only
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cares about himself, only for himself. if that were the case, wouldn't he just walk away from all this, walk away from the headaches and the attacks? >> reporter: nikki haley is not, and haley's campaign says she doesn't do coronations, the people should vote, 70% of americans do not want to biden/trump rematch. the president will speak tomorrow afternoon. stuart: ron desantis responding to donald trump considering him as a running mate. what exactly is desantis saying? ashley: he says he's not interested in being trump's running mate and is looking at other prospects including another white house bid in four years. before the governor did reveal what criteria he thought trump should use to appoint a vp, he
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says trump is more inclined to use identity politics and his selection and believes that the big mistake. he believes whoever is selected should hit the ground on day one with no problems. desantis says he believes a former governor like himself would be an excellent candidate for the post. stuart: president biden claims he is the most prolabor president in us history. trump gaining support among blue collars. ashley: he is, the data shows it. biden touts himself as the most prolabor president in us history, but when you look at the political donations data it tells a different story, trump has far more donors than biden from people who report working for the caller workplaces like walmart, federal express, analysts say that should be a red flag for biden's reelection campaign that relies on winning heavily unionized states.
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michigan, wisconsin and pennsylvania for example. that said, trump is yet to earn the endorsement of a major union but there's a big disconnect between union leaders and the rank and file who he claims give him tremendous support. stuart: president biden and vice president harris meeting with governors at the white house, the border is not on the list of topics. a guatemalan migrant accused of killing a police officer filing a civil rights lawsuit against the officer's estate. his lawyers say his ability to speak english is a disability. we have the story next. ♪
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stuart: where are we now? we turned into the red on the nasdaq, sharply higher this morning coming down ever since, we are down 10 points, 16,030 on the nasdaq. migrant from guatemala accused of killing a police officer and filed a civil rights lawsuit against the deceased deputy's the state.
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more complicated story. neil: lauren: violation of the americans with disabilities act. he does not speak english, he does not speak spanish, he speaks a guatemalan dialect. 's attorneys say he was denied an interpreter. he is now 19 and works on a farm. last may he was standing outside a closed business at night. a police officer approached him and bought him a beer. body can footage shows when the officer attempted to pat him down for weapons he tried to get away and resisted arrest. after this tussle which lasted 6 or 7 minutes, one of the officers right here collapsed and later died at a hospital. and autopsy report showed that officer died from preexisting conditions. the migrant was charged with aggravated manslaughter. he is now suing this officer's estate. another officer and the florida
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county where he was arrested. 's attorney says it is not just language at issue. this person is intellectually stable and has mental health issues. stuart: not as simple as presented. a complicated issue. thanks. any minute now, president biden will meet with the nation's governors at the white house. the event is just getting started. the first lady is speaking and the vice president will speak and biden will speak. at some point we will get something from the governor's conference. leo terrell, they are not talking about the border. how is that possible? >> i want to be as clear as i can. the democrats want open borders. they want it. i live in california. gavin newsom welcomes illegal immigrants. look at governor of illinois. look at aoc last night. they want open borders. if biden tries to close the
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border or revert to trump policy he will lose his left-wing. there is no secret here. the downside is democrats in chicago and new york people want to secure border who cannot have a country without a secure border but democrats looking at potential voters, that's the reason why. stuart: governor newsom is at the white house at this conference, trying out the white house from the inside. what do you think? >> i think governor newsom is likely to replace president biden. 1968 lyndon johnson moment. he's a lame-duck. june or july. governor newsom has done everything possible to run a shadow campaign. to the immigration situation, every newsom gives free healthcare, money, everything, he's encouraging illegal immigration.
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stuart: how do you get the president out? how do you ease him out? you somebody else in? almost impossible. >> we have a man. i'm a lawyer for 30 years. this guy is unfit to appear in court, yet he's fit enough to serve as president of the most powerful country in the world, that doesn't make sense, 25th amendment or he voluntarily resigns to save face. stuart: dream on. that's not going to happen. left-hand side of the screen. we saw governor newsom. the board of education voted to remove all police officers from public schools, a unanimous decision. what do you think of it? >> go back to 2020, the riots,
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the democrats position, state, crazy mayor, they do not want law enforcement, they do not support police, they believe another minute in the cabal justice system. am i surprised? no. looking at where it happened, you cannot have a civilized society without law enforcement, look at school shootings. makes no sense. i am trying to explain irrational behavior on the far left, can't explain. we won when the gangs run chicago, don't they? the gang this. >> the gays control the city of chicago. they dictate policy in chicago. this is the problem. the politician, the democratic machine, they kowtow to the gangs in chicago. you can aluminate the gangs if you want to but they don't want to do. i'm old enough to remember when donald trump offered assistance to chicago and former mayor didn't want it. they want crime. crime is a domestic element of the democratic party. sorry to be brutally honest but those are the facts. going on for 50 years.
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stuart: i thought you were going to go on from there but i take your point. you are about to invite me for dinner again. leo terrell, you are all right, have a great weekend, see you soon. still ahead on this program. saar gone on the white house reporters feeling the heat from the administration because of their coverage of biden. bill hemmer on tomorrow's south carolina republican primary. dave portnoy raising money after adopting a new dog. the 11:00 hour of "varney and company" is next. ♪
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♪not just telling people
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